Certified Meeting Professional (CMP) Practice Exam

What should be the starting point for developing sponsorship goals?

1. An understanding of event venue size

2. The value that the event offers to sponsors

3. The number of attendees expected

4. The catering budget for the event

The correct answer is: The value that the event offers to sponsors

The value that the event offers to sponsors is indeed the most logical starting point for developing sponsorship goals. This is because sponsorship is fundamentally based on mutual benefit; sponsors are looking for opportunities that will provide them with a return on their investment. Understanding the value proposition of the event allows the organizers to effectively communicate the benefits to potential sponsors, which can include brand visibility, access to a target audience, and opportunities for engagement. When you start with the value that the event provides, it helps to align the sponsorship goals with the needs and objectives of the sponsors. This approach ensures that the sponsorship packages are well-structured to showcase how the event can help sponsors achieve their marketing and promotional aims. The other considerations, such as event venue size, expected number of attendees, and catering budget, while important to the overall event planning process, do not directly address the core relationship between the event and potential sponsors. Venue size and attendee numbers are more related to logistics and capacity, while the catering budget focuses on operational costs rather than sponsorship strategy. Starting with the value for sponsors sets a more strategic direction for sponsorship development.